A €400m investment to include a 150-bed hospital, as well as over 200 housing units has been announced by Limerick City and County Council.
The hospital is to be developed on a major portion of land adjacent to the Moyross estate located on a stretch of roadway given the green light only yesterday by Minister for Transport Eamon Ryan.
The hospital, which will have 150 beds, 40-day care beds, as well as a medical training and research centre, is being provided by the University of Pittsburgh Medical Centre or UPMC group.
They already run the Whitfield Hospital in Waterford, and the Aut Even Hospital in Kilkenny and the UPMC Kildare Hospital.
In addition, 108 one to four-bed social and affordable houses are to be located on the site.
A further 68 houses are earmarked for development along the riverfront at Thomondgate, and 36 houses at Speakers' Corner on the Hyde Road Park in the city centre.
These developments are being undertaken by a joint venture between Whitebox, a Limerick company involved in building community housing and the Clúid Housing agency, and the entire development will be managed by the Limerick 2030 team.
It will be undertaken over the next three to five years, and provide 200 jobs during construction, with an anticipated further 200 when all sites are operational.
Mayor of Limerick Cllr Michael Collins said it was a transformational project, which will improve the quality of life for all its citizens.
"It dovetails perfectly with the regeneration plan and the completion of key connectivity routes in Moyross particularly at the Coonagh Knockalisheen road scheme", he said.
City and County Chief Executive Pat Daly described it as a game changer for Moyross, given the ambition and scale of the Coonagh hospital and housing project in particular.
He said they will continue to look for every opportunity to bring further transformational developments across all four regeneration areas in Limerick.
